Nigerian equities slide further by 0.11%

Activities on the Nigerian Stock Exchange ( resumed for the week on Monday on a negative note with the market indicators dropping by 0.11 per cent due to profit taking.

The market capitalisation, which opened at N9.499 trillion, lost N10 billion or 0.11 per cent to close at N9.489 trillion.

Also, the All-Share Index lost 29.54 points or 0.11 per cent to close at 27,629.90 compared with 27,659.44 recorded on Friday.

An analysis of the price movement table, showed that Forte Oil topped the losers’ chart, dropping by N18.99 to close at N175.91 per share.

Seplat Petroleum Development trailed with a loss of N16.50 and Dangote Cement shed N4.50 to close at N175 per share.

Guinness declined by N1.48 to close at N95, while Lafarge Africa shed 41k to close at N59.24 per share.

On the other hand, Nigerian Breweries led the gainers’ table growing by N6.90 to close at N144.91 per share.

Total Nigeria followed with a gain of N1.50 to close at N181.50 and Ecobank Transnational Incorporated appreciated by 59k to close at N12.39 per share.

Oando gained 51k to close at N5.63 and Zenith Bank grew by 28k to close at N15.63 per share.

FBN Holdings emerged the most traded equity, exchanging 114.92 million shares worth N399.52 million.

It was followed by Access Bank with a turnover of 48.59 million shares valued at N254.43 million and Skye Bank sold 41.38 million shares worth N32.47 million.

Investors staked N136.55 million on 31.37 million shares of United Bank for Africa and Zenith Bank exchanged 27.14 million shares worth N424.69 million.

In spite of the drop in market indices, the volume of shares traded closed higher with an exchange of 378.51 million shares valued at N2.27 billion transacted in 3,519 deals.

This is against the 255.73 million shares worth N2.11 billion achieved in 3,659 deals on Friday.